Spain Finally Demands for bailout of over €100bn.
Linkedin

Spain Finally Demands for bailout of over €100bn.

Madrid : Spain | Jun 10, 2012 at 2:56 AM PDT
XX XX
Views: Pending
 
Spain to access eurozone rescue funds

Brussel, Belgium - After months of speculation, hope and denials, Spain has formally requested for a bailout package. After an emergency telephone conference of euro-zone finance minister yesterday, an official statement was issued saying that a larger sum of €100bn could be needed for Spain to refurbished its economy Said Luis de Guindos, economy minister.

Now that Spain has becomes the fourth member of the 17 nation euro-zone to get a bailout since the continent's debt crisis erupted two years ago, hope Spain can now used the bailout packages to help its struggling banks and property loans and assets problems.

But Luis de Guindos also caution, that he hope no further austerity measures would be attached as conditions for receiving the funds, that would be used expressly for the banks that needed them mostly, rather than to help cover Spain's public debt, which stood at a ratio of gross deomestic product, and it is lower than Germany's.

1 of 12
Next
Spanish Economy Minister Luis de Guindos insists "no external help is needed" to support the banks
Spanish Economy Minister Luis de Guindos insists "no external help is needed" to support the banks
Adebanjos is based in Seevetal, Niedersachsen, Germany, and is a Reporter for Allvoices.
Report Credibility
 
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear
 
 
 
Advertisement
 

News Stories

 
  • Spain finally asks for bailout and receives €100bn lifeline

      The Independent
    Suggested Topics After months of speculation, denials, and hoping for something anything to turn up, Spain has formally requested a bailout, by far the largest economy to do so. After an emergency telephone conference of eurozone finance ministers...
  • Spain, Eurozone Agree To 'Financial Support'

      National Public Radio
    Melisa Goh Spain will ask, and European finance ministers will agree, to offer up financial aid for the country's struggling banks. Spanish and eurozone officials announced their intentions after a three-hour emergency conference call on Saturday. If...
  • Spain to seek Euro help in saving banks

      Telegraph India
    Spain agreed today to accept a European bailout to try to stabilise its cash-starved banks, following increasingly desperate calls from world leaders to accept the money before Greek elections next week that they fear could cause havoc in the markets.
  • Spain to accept rescue from Europe

      San Jose Mercury News
    Responding to increasingly urgent calls from across Europe and the United States, Spain on Saturday requested assistance for its cash-starved banks. European finance ministers in turn promised up to $125 billion in aid, which they hope will quell...
  • Spain asks for European financial aid for banks

      Channel NewsAsia
    Spain will request European financial support for its distressed banks, Economy Minister Luis de Guindos said Saturday after emergency talks with eurozone ministers. Spain "declares its intention to request European financing for the recapitalization...
  • Spain to ask eurozone for banking bailout

      Al Jazeera
    38 Spain's Economy Minister Luis de Guindos said the aid would go to the banking sector only [Reuters] Spain is to ask for a bank bailout from the eurozone, becoming the fourth and largest country to seek help since the single currency bloc's debt...

Blogs

 >

Images

 >
 

More From Allvoices

Report Your News Got a similar story?
Add it to the network!

Or add related content to this report



Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.